With the resignation of the acting head of the Internal Revenue Service (IRS) over a series of audits of conservative organizations, the agency is under intense public scrutiny. Ai??But this furor ignores little-noticed numbers released last month — they show that the IRS’s audits of wealthy taxpayers revealed massive tax-dodging by the richest Americans.
In 2012, the IRS ramped up its audits of wealthy taxpayers, and shockingly found a massive rate of under-paying taxes. It audited one in eight tax filers with incomes over $1 million, concluding that about 75 percent of these millionaires failed to pay the taxes they owed. Altogether, the agency collected an additional $4.8 billion in taxes from these taxpayers after the audits were conducted.
As the press and politicians look at the IRS’s conduct with regards to auditing political nonprofits, it’s important to remember that these audits can be a powerful tool for making sure that wealthy taxpayers are paying what is legally required of them. If last year’s numbers are any indication, increasing audits of wealthy taxpayers will reveal under-payment and help us raise the money needed to fund the government.
It is time for the IRS to be under investigation because they do not like black and poor they do anything to help out the rich people.It mybe time for somebody to put them under investigation because they had put more black and poor people in jail then they put rich people in jail.They are more rich people who did not pay there taxes in years and they let them walk free but if a black or poor people forget to pay/there taxes like that they put the black and poor people in jail.
Agreed… well said tax the rich more
America needs to Stop critciizing the President and Take a Good look at how our America is. Is it the Land of the Free, the Land of Opportunity, Rights for All… or just a select few that can enjoy it IF and When you get RICH.
True… everything obama getting blame… stop pointing fingers and start working together to build america